Guotai Junan Securities Co., Ltd. Class H (HK:2611) has released an update.
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Guotai Junan Securities and Haitong Securities are moving forward with their proposed merger and share exchange, having received key regulatory approval from the SFC for Guotai Junan to become a substantial shareholder in Haitong’s subsidiaries. However, additional conditions and approvals are still pending, including anti-trust clearances and shareholder approvals, before the merger and associated share placements can be completed.
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